GEB2102: ENTREPRENEURSHIP

MAY 2022 SEMESTER

PROJECT TITLE: MANY-NANNY

GROUP ASSIGNMENT 1
IDEA GENERATION, PRODUCT CONCEPT AND FEASIBILLITY STUDY

LECTURER: DR. KASHIF SHAD

Group Members ID Programme

Nurul Nabihah binti Idris 18000772 Electrical and Electronics Engineering

Dayana Batrisya binti Abdul Kafi 19001194 Electrical and Electronics Engineering

Nur Afiqah binti Abu Bakri 19001208 Electrical and Electronics Engineering

Ain Rabiatul Addawiyah binti

19001302 Electrical and Electronics Engineering
Hamzah
Yap Wei Cheng 19001544 Electrical and Electronics Engineering
Raja Muhammad Raihan bin Raja
20001492 Electrical and Electronics Engineering
Azlan
Nurfarah Hanim binti Rosmadi 20001736 Electrical and Electronics Engineering
Table of Contents
TITLE .....................................................................................................................................................3

IDEA SKETCH PAD ............................................................................................................................3

CONCEPT STATEMENT ....................................................................................................................4

FEASIBILITY ANALYSIS ..................................................................................................................5

INTRODUCTION .............................................................................................................................5

PART 1: SERVICE FEASIBILITY.................................................................................................6

1.1 Service Desirability ..................................................................................................................6

1.2 Service Demand .......................................................................................................................7

1.3 Conclusion ................................................................................................................................9

PART 2: INDUSTRY/MARKET FEASIBILITY ........................................................................10

2.1 Industry Attractiveness .........................................................................................................10

2.2 Target Market Attractiveness ..............................................................................................11

2.3 Market Timeliness .................................................................................................................12

2.4 Conclusion ..............................................................................................................................13

OVERALL FEASIBILITY: SUMMARY AND CONCLUSION ...............................................16

CONCLUSION ....................................................................................................................................17
 TITLE

Many-Nanny: A platform that provides quality nannies for working parents.

IDEA SKETCH PAD

 CONCEPT STATEMENT

Service

Many-Nanny is an online platform which helps to connect working parents with nannies around
Malaysia to care of their children when they are working. The platform which through a website
will as well provide job placement to nannies around Malaysia, where the user could register
themselves as either an employer (Nanny) or as a customer (Working parent).

Target Market

In the initial launching stage of this service, it will be covering the state of Perak as its first
targeted market area. The strategy to obtain a large coverage and marketing, it will be
partnering with children store like The Children Place, Babyshop, Fashion Children and etc to
advertise this service in their store with certain remuneration. The targeted audience would be
both nannies and working parents.

What does it solve?

The average licensed babysitter will cost in between RM 750 to RM 2000 monthly depending
on the location of the household. The average would be costing around RM 1375, it would
have taken approximately 20% of an average Malaysian monthly salary of RM 6,590 for one
child. This would benefit the working parents as the cost of babysitting is very much costly.
Plus, this service will be a decentralize business where every nanny is being empowered to be
their own employer by managing their own schedule, hourly rate, services and many more.

Specialty

Unlike the usual child day-care, Many-Nanny would apply another concept where nannies
chosen will be going to working parents’ houses to take care of their child in the comfort of
their own home. Working parents could also supervise the caretaker closely through wireless
CCTV for their child security. Moreover, time and cost to fetch their children could be saved
too. With this, working parents could trust their children to the nannies with peace in mind.

Why trust us?

Many-Nanny is a reliable and licensed online platform to connect caretakers and

working parents to fulfil caretaking job. Information of both parties would be registered,
recorded and protected as an evidence or documents for reference. Many-Nanny will also be
subjected to audit by third parties for financial and management integrity.
 FEASIBILITY ANALYSIS

INTRODUCTION
Name of the proposed business

Many-Nanny

Name of the founders

1. Nurul Nabihah binti Idris

2. Dayana Batrisya binti Abdul Kafi
3. Nur Afiqah binti Abu Bakri
4. Ain Rabiatul Addawiyah binti Hamzah
5. Yap Wei Cheng
6. Raja Muhammad Raihan bin Raja Azlan
7. Nurfarah Hanim binti Rosmadi

Summary of the business

Many-Nanny is a reliable and licensed online platform to connect caretakers and

working parents to fulfil caretaking job. The platform will as well provide job placement to
nannies around Malaysia to fill in the children caretaking industry. In the initial launching stage
of this service, it will be covering the state of Perak as its first targeted market area. The targeted
audience would be both nannies and working parents. This service will be a decentralize
business where every individual nanny is being empowered to be their own employer by
managing their own schedule, hourly rate, services and many more. This service is aimed to be
an alternative to the conventional children day-care centre, where the working parents could
pick a qualified nanny whom they like with the range of budget they have.
 PART 1: SERVICE FEASIBILITY

1.1 Service Desirability

1. Three things you like about our service idea.

1. Flexible
2. Provides a platform for nannies to generate income
3. Works with working parents' schedule
Interesting Something new Rare
Lighten burden of busy parents give the child a meaningful childhood make friends with
other children
1. Trustable
2. Easy
3. Accessible
1. Ease people
2. Safe
3. Trustworthy
1. Easy to find day care takers
2. Saving Time
3. Trustable
partnering with children store, Working parents could also supervise the caretaker through
wireless CCTV, licensed
Fast, good, reliable

2. Three suggestions for making our service better.

is there any insurance or guarantee for my children's safety?

I suggest you to create different packages so that the parents can choose which package
they would like to choose.
Ensure you gain a good reputation amongst your customers.
Background research Certified nannies Contractual?
do you select whoever that apply for nanny job?
Please select the nanny by doing short interviews
3. Do you think that our service idea is feasible?

1.2 Service Demand

Question 1: Have you read and understand the above concept statement?

Question 2: How much would the service reduce the burden of caretaking?
Question 3: How much would you pay for the services? (Monthly Rate)

Question 4: How much do you trust us?

Question 5: Would you recommend this service to your friend and family?
1.3 Conclusion

Based on the conducted assessment tools and discussions of the results, there are several
improvements to improve service feasibility. Firstly, we should provide fast, 24/7, and
convenient customer support to help customers when they bump into a problem or have a
question about our service. Nowadays, having to spend even half an hour dealing with customer
support can seriously harm customer satisfaction levels because our target customers come
from working parents. Thus, we offer multiple channels such as email, phone, and live chat
support and we also use non-generic auto replies to give customers clear confirmation that their
message was received. Moreover, a great incentive to get people to use our service is by
offering discounts to them. For example, offering introductory discounts for a first-time user,
half price for the customer anniversary month as well as free service for loyal customers.
Bargains like these can attract new customers and maintain our existing customers to
continuously use our service. In addition, this service is also not limited to children only, but
we also accept the care of seniors aged 50 years and above, so our customers do not have to
worry about working overtime. Next, we also provide insurance for the safety of children in
case something bad happens because we are truly concerned about the safety of our customers.
Last but not least, we will provide basic salary, EPF, SOCSO and allowance to our nannies
depending on their performance. This is also a strategy to increase our service quality. If they
are happy for sure they will work well to ensure our customers are satisfied using this nanny
service.
 PART 2: INDUSTRY/MARKET FEASIBILITY

2.1 Industry Attractiveness

Based on 2022 North American Industry Classification System (NAICS) Association, the
children caretaking industry 624410 Child Care Services, where this Industry Attractiveness
Assessment was referred to.

Industry Attractiveness Assessment Tool

2.2 Target Market Attractiveness

Our Many-Nannies children caretaking industry caters for working parents and care givers.

Target Market Attractiveness Assessment Tool

2.3 Market Timeliness

Market Timeliness Assessment Tool

2.4 Conclusion

A. Industry Attractiveness

Many-Nanny which is known to be a children care taking service has a few rivals to
compete with. Many believe that having no competitor is more preferred for new start-ups,
however competitors can help with the development and growth of the business. This middle-
aged business allows the founders to improvise the operations operands as well as efficient
operations which proves that the company will have a strong growth rate. These caretaking
services are commonly used in big cities such as Kuala Lumpur and Johor Bharu. Many-Nanny
differs from the rest of the industry by expanding the location coverage to the whole nation. In
addition to that, it is expected that the service will have a medium average net income. The
degree of industry concentration was also considered where we identified it as neither
concentrated nor fragmented. The stage of the industry life cycle is currently in the growth
phase. In this phase, the company is still moving forward and making improvements to
modernize the company. The main demographic of the service is working parents which will
help them find a solution to their problems related to children care taking.

The importance of the industry’s services to customers is known to be moderate as it is

more to making their lives easier rather than a “must have” in their lives. With the COVID-19
pandemic coming to an end, work from home is not an option, therefore working parents are
getting more and more busier. This evident is enough to prove that businesses and
environmental trends are moving in favor of the children care taking industry. There are still
many more potential products and services that this industry can offer to the working
community that will have long-term prospects.

B. Target Market Attractiveness

The number of competitors in the target market is known to be relatively low however the
growth rate of firms can be categorized as slow growth. The understanding behind this is that
this industry requires many legal procedures and the trust of the clients. This industry has an
average net income and the method for generating revenue is very clear. Many parties can
benefit from the company such as working parents and individuals who are interested in taking
care of children whilst generating income. Many-Nanny will be able to create “barriers to
entry” for potential competitors as they provide many features and packages which will be
helpful for the clients. It is safe to say that customers are neither satisfied nor dissatisfied by
the current offerings in the target market. This is because there are very few companies that
can be reliable in this industry. Another justification as to why the customers are neither
satisfied nor dissatisfied is because of lack of excitement surrounding new product offerings in
the target market. On top of that, the marketing techniques for promoting the company will be
comparatively low as the industry caters for working parents and care givers only.

C. Market Timeliness

Working parents are slowly getting back to the office after two years of working from home
due to the COVID-19 virus. With this in mind, it can be said that the customers are currently
in a moderate buying mood as working parents would need help with handling their children
when busy. In addition to that, the industry is rapidly gaining momentum and support from the
clients as it can allow them to forget about their concerns of managing the kids. Businesses and
environmental trends are known to be moving in favor of the target market; however, no larger
firms have entered the market or are rumored to be entering the market in the near future.

D. Industry/Market Feasibility

Not Feasible Unsure Feasible

E. Suggestions for Improving Industry/Market Feasibility

Based on the analysis and assessment done, there are various suggestions to improve the
industry and market feasibility. Firstly, the most crucial initiative to be done by our company
is to increase advertising the promotion, discounts, and news widely via various platforms such
as YouTube, Instagram, Facebook etc. Since there are few competitors in a market, advertising
is a good strategy to get a leg up on this market competition. Next, our company needs to stay
updated with the current trend and culture. For instance, during the pandemic of COVID-19,
there are options for the workers to work from home. However, we have been in an endemic
phase where the demand for this service will increase. Thus, we will provide guidelines for the
nannies to ensure the safety of the customers. Besides that, we also ensure that this service will
not too overpriced so that we offer various types of services according to our customer budget.
Moreover, we also provide nanny from variety of races for the convenience of customers.
Finally, conducting feedback surveys are also important for the company to keep improving
and sustain in giving the best service to customers. This also enhances the quote of “Customer
is always right” that reflects the importance of customers in the business. In addition, we will
expand our service coverage, it is not focused only on the Perak, but we will also provide this
service in busy urban areas such as Kuala Lumpur, Johor Bahru etc. Finally, the feedbacks and
testimonies gained from the survey should be published as one of marketing strategy to attract
more clients.
 OVERALL FEASIBILITY: SUMMARY AND CONCLUSION

Overall Feasibility of Suggestions for Improving the

the Business Idea Based Feasibility
on Each Part

Product/Market Not feasible 1. Discount for regular

Feasibility Unsure customer/customer with
Feasible most used.
2. Provide 24/7 Hours
service.
3. Offer KWSP Socso for
nannies.
4. Provide fast, convenient
customer service.

Industry/Market Not feasible 1. Increase coverage

Feasibility Unsure 2. Advertising through
Feasible social media
3. Stay updated with current
trend and culture
4. Conducting feedback
survey

Overall Assessment Not feasible 1. Focus on marketing

Unsure strategy, service
Feasible uniqueness
 CONCLUSION

In conclusion, the proposed business service is feasible and relevant to our target market
which are the working adults and the nanny agencies. It is hard to locate companies that provide
childcare service in Perak; therefore, our business outcome is expected to be well-received after
performing the feasibility analysis. Moreover, the momentum of the market shows a rapid
gaining momentum in our market timeliness. Our service is hoped to help reducing the burden
of working adults especially those who had children to be taken care of by someone during
their busy time. This service should be affordable to every family and practical to the working
adults that faced problems to take care of their children during their busy time. This business
could be improved by adding discount to customers, providing 24/7 hours services, offer
KWSP Socso for nannies, provide fast, convenient customer service, increase coverage,
advertising through media social, stay updated with current trends and culture and but not least
conducting feedback survey. This service will surely guarantee market satisfaction and sustain
the product quality which aligns to our motto "Fair Benefits for Customers and Workers".